Cavco Industries (NASDAQ:CVCO) Shares Down 1.3% – Time to Sell?

Cavco Industries, Inc. (NASDAQ:CVCO) shares traded down 1.3% during trading on Thursday . The stock traded as low as $499.54 and last traded at $499.54. 7,037 shares were traded during mid-day trading, a decline of 89% from the average session volume of 64,245 shares. The stock had previously closed at $506.07.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a report on Tuesday. Finally, Craig Hallum boosted their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

Cavco Industries Trading Up 0.5 %

The firm’s fifty day moving average price is $457.34 and its 200-day moving average price is $407.28. The company has a market cap of $4.06 billion, a P/E ratio of 28.30 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter in the previous year, the firm posted $4.76 EPS. As a group, research analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In related news, Director Julia Sze sold 125 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the sale, the director now owns 2,861 shares of the company’s stock, valued at $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Paul Bigbee sold 100 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the completion of the transaction, the chief accounting officer now owns 981 shares in the company, valued at approximately $502,497.63. This trade represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,313 shares of company stock valued at $1,780,681 over the last quarter. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cavco Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC acquired a new position in shares of Cavco Industries during the second quarter worth approximately $208,000. Hunter Perkins Capital Management LLC lifted its position in shares of Cavco Industries by 28.4% during the second quarter. Hunter Perkins Capital Management LLC now owns 2,535 shares of the construction company’s stock worth $878,000 after purchasing an additional 560 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of Cavco Industries by 0.8% during the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after purchasing an additional 1,541 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Cavco Industries by 4.0% during the second quarter. Raymond James & Associates now owns 13,138 shares of the construction company’s stock worth $4,548,000 after purchasing an additional 503 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.